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+1
Chase Slate is not going happen. 60 days late and maxed out cards. It would be nice, but I doubt any lender would approve him, and even if they did, it probably won't be for enough CL for him do BTs. Plus, it might even perpetuate the problem.
With 60 days late and possibly going on 90, I bet VW is already looking for car.
+100 - yes, tell your friend to get the car payments sorted out and to follow the good advice on here about paying down his cards. Best of luck to him.
@scenery_guy wrote:
@xgac12x wrote:Well I gave him a couple suggestions as well. I told him that he should apply for a Chase Slate, and transfer all the high interest credit cards to that card, since its like 15 months no interest..Make aggressive payments, and get it paid off relatively quickly. I mean in essence its not that much debt...it can be paid off rather quickly and he can get his credit back on track, and plus if he gets the slate then it will also upper his total credit. Anymore suggestions? Thanks.
Two months in the rears with WV credit essentially means he's not getting another card for a while. Recent delinquencies will indicate that he is a poor risk - and he is a poor risk. Get that lease caught up even if he has to sell possessions to do so. Others have offered up great advice on how to pay the cards down so I will skip that part.
Fix the car situation and hope it does not wreak havoc on his reports causing CLD or closing of accounts.